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Lactose Global Market Report 2021: COVID-19 Growth And Change

Lactose Global Market Report 2021: COVID-19 Growth And Change

  • December 2021
  • 175 pages
  • ID: 6188076
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the lactose market are Kerry Group, Saputo Inc., Lactalis Ingredients, Leprino Foods Company, Glanbia Plc, Lactose India Limited, Davisco Foods International Inc., DMK Deutsches Milchkontor GmbH, Molkerei MEGGLE Wasserburg GmbH & Co. KG, Royal FrieslandCampina, FrieslandCampina, Armor Proteines, Bayerische Milchindustrie eG, Milei GmbH, Fonterra Co-operative Group, and Agropur Cooperative.

The global lactose market is expected to grow from $1.14 billion in 2020 to $1.20 billion in 2021 at a compound annual growth rate (CAGR) of 5.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1.37 billion in 2025 at a CAGR of 3.3%.

The lactose market consists of sales of lactose products by entities (organization, sole-traders, and partnership) that consists of disaccharide of glucose and galactose units.Lactose is a sugar present in milk and is found in all kinds of dairy products made from milk such as ice cream and yogurt.

It is found in milk in amounts ranging from 2–8%. Lactose is used in a large number of foodstuffs and in the pharmaceutical industry.

The different forms of lactose are powder and granule.Lactose powder is used as a sweetener or stabilizer in the food and pharmaceutical sectors.

The powder lactose is dry in form and usually white or pale yellow with a slightly sweet taste and smell of milk.The different purity types include crude lactose, edible lactose, refined-edible grade lactose and is in yellow, pale-yellow to white, white color.

Lactose is used in various sectors such as food and beverages, confectionery, animal feed, pharmaceutical, cosmetics, others.

North America was the largest region in the lactose market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Strategic collaborations are a key trend gaining popularity in the lactose market.Major companies operating in the lactose sector are focused on strategic collaborations to expand their product portfolio.

For instance, in March 2019, Lactalis, a France-based dairy products corporation collaborated with Prabhat Dairy, India-based integrated milk and dairy products company to enhance its portfolio of dairy products in India.Additionally, in July 2019, Lactalis acquired Itambé, a Brazil-based dairy company.

Through this acquisition, Lactalis plans to expand its capacity and process 2.3 billion liters of milk a year in Brazil.

In April 2019, Saputo Inc., a Canada-based fluid milk company acquired Dairy Crest Group Plc for $1.7 billion. The acquisition is expected to expand the presence of Saputo in the international market and provide the company with a strong asset base to enter the UK market. Dairy Crest is a UK-based dairy company that manufactures cheese, spreads, and other dairy products.

The rising demand for sports nutrition products is expected to fuel the lactose market growth.Sports nutrition items are meant to help athletes improve their performance, support muscular growth, and/or aid recuperation after a workout.

They can be protein-based or contain other basic ingredients and are available in a variety of forms, such as snack bars, shakes, or powders.Lactose is an essential ingredient in sports drinks owing to its clinically proven benefits and physical properties.

For instance, according to Tate & Lyle, a UK-based supplier of food and beverage ingredients to industrial markets, the global sports nutrition retail value reached $21.6 billion in 2019. Therefore, the increasing demand for sports nutrition products propels the growth of the lactose market.

The countries covered in the lactose market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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